Planet Green Holdings Corp. (PLAG) stock declines in the after-hour session. Here’s to know why?

Planet Green Holdings Corp. (PLAG) stock surged by 20.6% at the last trading close whereas the PLAG stock price declines by 11.67% at the last check in the after-hour trading. There is no recent news available regarding this change happening in PLAG share price. Planet Green Holdings Corp. is a food company that develops, manufactures, and sells food. Chestnut Products, Convenience Food Products and Frozen Food Products are PLAG’s three divisions. Si Chen founded PLAG on February 4, 1986, and it is based in Gaithersburg, Maryland.

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Recent Past Developments

Planet Green Holdings disclosed on March 9, 2021, that it had stepped into a Share Exchange Agreement with Jilin Chuangyuan Chemical Co., Ltd. (“Target”) and each of the Target’s shareholders (collectively “Sellers”). PLAG will purchase 75 percent of the outstanding equity interests of Target, a firm that investigates, produces, manufactures, and sells formaldehyde, urea formal dehyde adhesive, methylal, and clean fuel products in China, according to the Share Exchange Agreement.

Planet Green Holdings will grant 3,300,000 shares of PLAG common stock to the Sellers in return for the sale of 75 percent of the Target’s equity stake, according to the Share Exchange Agreement. The contract is subject to the usual closing terms for this kind of transaction.

On January 27, 2021

Planet Green Holdings announced that it has signed a Share Purchase Agreement with three partners. According to the terms of the deal, PLAG had to collect total proceeds of $6,750,000 in return for the issuance of 2,700,000 shares of PLAG’s common stock at a purchasing price of approximately $2.50 per share. The deal was supposed to close according to standard transaction closing terms.